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Transport Mutual Credit Union GreenRoad

Advertiser disclosure
Interest rate from
4.74% p.a.
Comparison rate from
5.04% p.a.based on $30,000
over 5 years
Upfront fee
$220

Mozo editorial review Transport Mutual Credit Union GreenRoad - last updated: 23 March 2021

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What's hot
  • Low 4.74% variable interest rate (5.04% comparison rate*)
  • No ongoing service fees
  • Funds can be used for car purchase as well as solar or battery systems and installation
What's not
  • $199 establishment fee
Mozo snapshot

On the hunt for a green car loan to fund your eco-friendly vehicle? Well, the GreenRoad Car Loan offered by Transport Mutual Credit Union not only has a competitive 4.74% variable interest (5.04% comparison rate*) it also has a bunch of handy features and repayment options too. Borrowers can choose weekly, fortnightly or monthly repayments and can also make extra repayments if they want to without paying additional fees, talk about a low cost green car loan with a tonne of flexibility.

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Key features

If you’ve decided to go green for you next set of wheels (and we aren’t talking about the colour), the GreenRoad Car Loan from Transport Mutual Credit Union comes with a competitive variable interest rate of 4.74% (5.04% comparison rate*) and has a range of loan terms from 1 to 7 years. 

The minimum loan amount is $5,000, but in addition to using the loan to fund an electric car, hybrid car, bicycle or e-bike, customers can also use the loan to install solar panels or battery storage systems that are used to power them. There’s the option to make repayments on a weekly, fortnightly or monthly regular repayments and if you have a little extra cash to put towards your loan, you can make extra repayments without penalty.

Now, let’s talk fees. You might be pleased to know that there are no ongoing service or exit fees attached to the GreenRoad Car Loan but just bear in mind there is an $199 upfront establishment fee. 

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Who is it good for

Even if you don’t work within the transport industry you can still apply for the Transport Mutual Credit Union’s GreenRoad Car Loan. So for anyone looking to get their hands on a set of keys for an eco-friendly vehicle this competitive car loan could be ideal.

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Any catches

The GreenRoad Car Loan is designed for electric cars, hybrid cars, bicycles and e-bikes only - so if they aren’t the sort of vehicles you have your eyes on, the Transport Mutual Credit Union FastRoad New Car Loan or Transport Mutual Credit Union FastRoad Used Car Loan may be a better option for you.

Details

Rates and fees information correct as at 17 September 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Variable

4.74% p.a.variable

5.04% p.a.based on $30,000
over 5 years

Fees

$220.00

$0.00

$10.00

$0.00

0

Other financial bits

$5,000.00

none

1 Year

7 Years

Other, Vehicle

Features

Weekly, Fortnightly, Monthly

yes

yes

The late fee is to cover administrative costs which may be charged after a grace period.

Other purposes include bicycles including e-bikes, solar panel systems and battery storage units.

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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